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UK Unemployment Falls to 4.9% as Wage Growth Beats Forecasts

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UK Unemployment Falls to 4.9% as Wage Growth Beats Forecasts

Britain’s unemployment rate edged down to 4.9 per cent in the three months to April, according to figures published by the Office for National Statistics (ONS) on Thursday, handing policymakers a modest piece of good news just hours before the Bank of England delivered its latest call on interest rates.The reading

was down from the five per cent recorded in the previous quarter and came in better than the expectations of economists, who had pencilled in an unchanged jobless rate of five per cent. It is the sort of small upside surprise that rarely shifts the dial on its own, but it lands at a sensitive moment for rate-setters weighing how much slack is building in the labour market.

Pay growth excluding bonuses held steady at 3.4 per cent over the same period, comfortably ahead of forecasts of 3.2 per cent. Adjusted for consumer price inflation, real earnings rose by 0.3 per cent, leaving workers fractionally better off in real terms. Total pay including bonuses climbed 4.4 per cent, also beating the four per cent the market had expected.

The numbers arrived only hours before the Bank of England announced its decision, with the Monetary Policy Committee widely tipped to leave borrowing costs unchanged at 3.75 per cent. The Bank trimmed rates to that level late last year, as covered in our report on how UK interest rates were cut to 3.75% as the Bank signalled inflation nearing target, and has since trodden carefully amid a patchy growth picture. The full detail of the Committee’s thinking is set out on the Bank’s own Bank Rate page.

Rate-setters have been watching the jobs data closely as they judge whether elevated oil prices, linked to the conflict involving Iran, could feed through into stronger wage demands. A tight labour market would raise the risk of a second-round inflation effect, the kind of dynamic the Bank is determined to avoid.

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Responding to the figures, Work and Pensions Secretary Pat McFadden said the data showed 400,000 more people in work than a year earlier, while acknowledging that instability in the Middle East was creating uncertainty. “We have the right economic plan for growth and stability in a volatile world, and we are taking action to create opportunity and make sure that no one is left behind,” he said.

He pointed to what he called the biggest youth employment reforms in a generation, including a Youth Guarantee backed by £2.5 billion of investment aimed at creating almost a million opportunities for young people, and the Connect to Work programme designed to support 300,000 disabled people into employment.

Not everyone read the release as a turning point. Independent economist Julian Jessop cautioned that the underlying trend remained soft. “Even after some favourable revisions, the trend in payroll jobs is still down, with 119,000 fewer employees in May than in the same month a year earlier, and 187,000 fewer than two years ago,” he said.

A further worry for the Committee is whether softer demand for workers is eroding employees’ bargaining power and their ability to push for bigger pay rises. Most members believe labour market conditions have loosened compared with recent years, making large wage increases less likely. The shift is stark set against the period after Russia’s invasion of Ukraine in 2022, when inflation peaked at 11.1 per cent and wage growth ran above five per cent for almost three years.

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Suren Thiru, chief economist at ICAEW, struck a downbeat note. “These figures point to a jobs market struggling under the strain of soaring energy bills and employment costs, with more firms limiting hiring and holding down pay, especially for younger workers,” he said. The cooling he describes echoes the picture in our earlier coverage of how the UK jobs market is slowing as wage growth eases and vacancies fall amid higher business taxes.

Thiru argued that weaker wage growth would reassure policymakers that any inflationary spillover from the conflict involving Iran could be contained. “These figures seal the deal on a midday interest rate hold by reassuring rate-setters that a softening labour market can help keep this Iran-driven inflation shock short-lived by dampening demand across the economy,” he said, adding that the Committee’s vote split and accompanying minutes could take on a slightly more dovish tone.

The claimant count told its own story. The number of people claiming unemployment benefits rose by 31,200 in May, ahead of forecasts for an increase of 25,800 and following a revised rise of 8,300 in April. Employment grew by 100,000 in the three months to April, down from 148,000 in the previous period but still ahead of expectations for growth of 80,000.

Thiru warned that falling vacancies suggested demand for workers was weakening at an uncomfortable pace, as businesses absorbed mounting financial pressures and automation reshaped the workforce. That theme of a stalling hiring engine has been building for some time, as our reporting on long-term unemployment climbing to a decade high made clear.

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“While the US-Iran peace deal has halted hostilities, the damage to the UK’s labour market is already done,” he said, predicting that unemployment could drift towards six per cent if higher energy costs continue to weigh on employers’ hiring plans.

For now, the headline rate is moving in the right direction. The harder question for businesses and policymakers alike is whether that holds once the full weight of higher costs and weaker demand works its way through.


Amy Ingham

Amy is a newly qualified journalist specialising in business journalism at Business Matters with responsibility for news content for what is now the UK’s largest print and online source of current business news.

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Who should pay on the first date

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Who should pay on the first date

Ask a group of friends and you’ll likely get a dozen different answers. Some insist the bill should always be split equally, others believe the person who sets up the date should pay and despite changing attitudes towards gender roles, many still see a man picking up the bill as a romantic gesture rather than an outdated tradition.

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The artificial ice pyramids saving India's mountain villages

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The artificial ice pyramids saving India's mountain villages

Himalayan villages are creating artificial glaciers to guarantee water for their crops in the spring.

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Biggest ever US clean energy project is complete after nearly two decades

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Biggest ever US clean energy project is complete after nearly two decades


Biggest ever US clean energy project is complete after nearly two decades

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USD/THB Overbought Signals Mask Persistent Upside Risks, OCBC Warns

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Thailand tightens regulations on large cash withdrawals in a new crackdown on grey funds

OCBC analysis suggests that while the USD/THB exchange rate shows critical overbought signals, there are still significant upside risks that should be considered.


Key Points

  • OCBC’s analysis on the USD/THB exchange rate highlights critical overbought signals indicating a potential correction.
  • Despite these signals, the report emphasizes ongoing upside risks for the USD/THB rate, suggesting that the potential for further increases remains significant.
  • Investors are advised to stay cautious, as market conditions may still favor the US dollar against the Thai baht.

Current Market Conditions

The analysis from OCBC highlights the current state of the USD/THB exchange rate, signaling critical overbought conditions that may obscure underlying risks. The increasing value of the USD against the Thai Baht (THB) is underpinned by a combination of global economic factors and local monetary policies. These factors are pushing the exchange rate further, attracting both domestic and international interest. Despite these indicators pointing towards a potential market correction, the rising demand for the USD suggests that such a correction may not materialize in the immediate term, thus lifting the volatility in the currency pair.

Future Projections

Looking ahead, OCBC emphasizes that while overbought signals indicate a potential slowdown for the USD/THB, there remains persistent upside risk. Economic resilience in the U.S. continues to exert pressure on the Asian currencies, including the THB. Trade dynamics and capital flows, influenced by the economic strategies of the U.S. and Thailand, could impact the exchange rate significantly. Investors should be cautious; the interplay of these forces means that even amidst overbought conditions, the USD may still experience upward momentum.

Strategic Implications for Investors

Investors aiming to navigate the fluctuations in the USD/THB exchange rate should take into account the complex dynamics at play. The analysis suggests that careful monitoring is essential; overbought conditions may provide limited short-term opportunities for profit-taking, but downside risks remain pronounced. As both domestic economic data and global developments unfold, investors must remain adaptable, ready to respond to new information that could influence the long-term trajectory of the USD/THB. Strategizing with risk management in mind will be essential to capitalize on potential market shifts while safeguarding against unforeseen losses.

Source : Critical Overbought Signals Mask Persistent Upside Risks – OCBC Analysis

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Daveigh Chase, Child Star Who Voiced Lilo and Terrified Audiences in ‘The Ring,’ Dies at 35

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Selena Gomez

Daveigh Chase, the actress who gave voice to one of Disney animation’s most beloved characters while simultaneously terrifying moviegoers as a horror icon, died Tuesday in Los Angeles. She was 35.

Her boyfriend, Roy Hernandez, confirmed her death, saying Chase died from meningitis and an infection in her blood that caused septic complications and ultimately led to her body shutting down. Her father also confirmed her death to the New York Times, saying she had been homeless and living in Los Angeles with her boyfriend and that she had been struggling with drugs since the age of 13.

Chase had been admitted to a hospital in Los Angeles earlier this month due to malnutrition. Her boyfriend had recently set up a GoFundMe page for the ailing Chase, in which he wrote that she had been diagnosed with meningitis and several serious blood infections and that her condition had become critical.

In the GoFundMe page, Hernandez acknowledged that Chase had experienced a difficult childhood and a painful falling out with her family, and that she had struggled to find safety and happiness in downtown Los Angeles. He wrote that when the two met, he promised to protect her and give her the love and comfort she deserved, and that together they had found moments of happiness and hope.

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Born in Las Vegas and raised in Albany, Oregon, Chase launched her career as a child actor at age seven, when she appeared in commercials. She won the role of Lilo the following year, at the age of eight.

That role would define her legacy. Chase voiced Lilo in the hit Disney animated film “Lilo & Stitch” in 2002 and the follow-up television series. The film, a heartfelt story of a lonely Hawaiian girl and an alien creature she adopts as a pet, became a cultural phenomenon and one of Disney’s most enduring properties. For her voice work, Chase won an Annie Award for outstanding voice acting in an animated feature production.

That same year, Chase delivered what would become one of the most chilling performances in American horror history. In Gore Verbinski’s 2002 horror hit “The Ring,” Chase played Samara Morgan, the lank-haired supernatural antagonist whose image — a small pale girl emerging from a television set — became one of the most iconic visuals in the genre. At just 12 years old, Chase was named Best Villain at the 2003 MTV Movie Awards, beating out Willem Dafoe, Daniel Day-Lewis, and Colin Farrell. Her performance was also featured as archival footage in the 2005 sequel “The Ring Two” and 2017’s “Rings.”

The feat of delivering two such culturally distinct and memorable performances in the same year — one joyful and one terrifying — was a testament to Chase’s range as a young performer.

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Chase also voiced Chihiro Ogino in the American dub of the acclaimed Studio Ghibli film “Spirited Away,” further cementing her status as one of the most recognizable voice actresses of her generation.

Chase also played Samantha Darko, the younger sister of Jake Gyllenhaal’s lead character in “Donnie Darko,” and she starred in the direct-to-video sequel “S. Darko” in 2009.

Beginning in 2006, Chase earned a recurring role in the HBO drama series “Big Love,” which follows a fundamentalist, polygamist Mormon family. She played Rhonda Volmer in 32 episodes of the series during its five-season run.

Her other television credits included “Betsy’s Kindergarten Adventures” on PBS Kids, as well as appearances on “Sabrina the Teenage Witch” and “ER.” Her last acting roles came in 2016.

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In the GoFundMe page, Hernandez also referred to various other difficulties encountered by Chase over the years, including bullying and a falling out with her family. In the years after her acting career wound down, she largely withdrew from public life.

The news of Chase’s death drew an immediate outpouring of grief from fans across social media, many of whom grew up with her performances as both Lilo and Samara as formative cinematic experiences. Letterboxd, the popular film social network, marked her passing with a tribute post.

Chase is being remembered for her performances in “The Ring,” “Lilo & Stitch,” “Big Love,” and “Donnie Darko,” as well as for her voice role in the English dub of “Spirited Away.” She leaves behind a body of work that touched multiple generations of film and television audiences, spanning the full spectrum from animated enchantment to horror iconography — a rare duality that few actors at any age have managed to achieve.

Daveigh Elizabeth Chase was born July 24, 1990. She was 35.

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The one question every investor should answer before buying their very first ETF

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Why this small-cap Russell 2000 ETF is beating all major indexes in 2026

Exchange-traded funds (ETFs) are great investment vehicles for gaining instant exposure to different sectors at prices often lower than those of some of the ETF’s top stock holdings.

For example, Space Exploration Technologies, or SpaceX, closed its first day of trading at just under $161. But the Tema Space Innovators ETF, which holds SpaceX and other space-related investments, is trading below $35 per share.

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That said, with so many different options to choose from, there’s one key question to consider before adding the first ETF into any portfolio.

Traders at the NYSE in lower Manhattan monitoring a volatile trading day.

U.S. stocks hover near record highs, along with metals including silver and gold.  (Michael M. Santiago/Getty Images)

The biggest question to ask yourself

The question to answer before buying an ETF is, “What role is this ETF going to serve in my portfolio?”

5 SIMPLE ETFS TO BUY WITH $500 AND HOLD FOR A LIFETIME

For example, an investor may want to generate more income. With that goal in mind, one investment to consider is the Schwab U.S. Dividend Equity ETF, which tracks U.S. companies with high dividend yields. That ETF pays a dividend that yields above 3%. For investors seeking greater access to theme-based investing with higher price appreciation potential, there are ETFs focused on sectors like artificial intelligence (AI).

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COULD THE VANGUARD S&P 500 ETF BE YOUR TICKET TO BECOMING A STOCK MARKET MILLIONAIRE?

Ticker Security Last Change Change %
SCHD SCHWAB STRATEGIC TR US DIVIDEND EQUITY ETF 31.86 -0.07 -0.22%
VTI VANGUARD TOTAL STOCK MARKET ETF – USD DIS 369.99 +4.23 +1.16%

When it comes to the very first ETF to add to a portfolio, however, the Vanguard Total Stock Market ETF offers a strong starting point. Its investment philosophy is straightforward and has helped investors build long-term wealth.

How the Vanguard Total Market ETF operates

The Vanguard Total Stock Market ETF is designed to track the CRSP U.S. Market index, which represents 100% of the investable U.S. stock market. Its holdings include large-, mid-, and small-cap stocks, with those holdings totaling nearly 3,500. Nvidia is the top holding, with a portfolio weight of 6.6%.

A screen displays the Dow Jones Industrial Average

The question to answer before buying an ETF is, “What role is this ETF going to serve in my portfolio?” (Reuters/Jeenah Moon)

1 UNDER-THE-RADAR ETF TO INVEST $1,000 IN RIGHT NOW THAT’S OUTPERFORMING MAJOR INDEXES THIS YEAR

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It’s a tech-heavy ETF, however, so this may not be a fit for investors who already have heavy exposure to tech stocks. Still, this ETF offers massive diversification, a history of steady returns, and a dividend payout. As of May 31, the Vanguard Total Stock Market ETF is up over 308% over the last 10 years, and its dividend yield is 1%, boosting that total return potential.

Jack Delaney has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Nvidia. The Motley Fool has a disclosure policy.

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Waymo recalls robotaxi fleet after construction-zone freeway incidents

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Waymo recalls robotaxi fleet after construction-zone freeway incidents

Waymo is recalling nearly 4,000 robotaxis after more than a dozen incidents in which the autonomous vehicles entered closed freeway construction zones, according to a National Highway Traffic Safety Administration (NHTSA) recall report.

The recall affects 3,871 vehicles equipped with Waymo’s 5th Generation Automated Driving System.

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According to NHTSA, the software issue could allow a vehicle to enter a closed freeway construction zone and continue traveling at posted speeds. Regulators said affected vehicles may avoid or fail to recognize certain construction-zone closures because of the software defect.

Waymo estimates that all 3,871 vehicles covered by the recall are affected.

WAYMO PAUSES FREEWAY ROBOTAXI ROUTES AFTER SAFETY AND SOFTWARE CONCERNS

Waymo Jaguar I-PACE autonomous SUV waits at an intersection in San Francisco

A Waymo self-driving Jaguar I-PACE SUV waits at an intersection in San Francisco, March 18, 2025. (Smith Collection/Gado/Getty Images / Getty Images)

According to the recall report, Waymo’s Field Safety Committee began reviewing the issue in late April after examining six incidents in which robotaxis drove past ramp closure signs and entered freeway construction zones.

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The committee met again in May after identifying seven additional instances involving active construction zones in the San Francisco Bay Area.

As a result of the 13 reported incidents, Waymo implemented freeway-driving restrictions while engineers worked to identify the root cause and develop a remedy, according to the filing.

The recall covers Waymo 5th Generation Automated Driving Systems manufactured between May 17, 2022, and May 19, 2026. As of June 13, a software remedy remained under development, according to the filing.

WAYMO RECALLS MASSIVE AUTONOMOUS FLEET AFTER INCIDENT FLAGS MAJOR SAFETY ISSUE

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Waymo legacy minivan

Waymo’s legacy fully autonomous Chrysler Pacifica Hybrid minivan.  (Waymo / Fox News)

Waymo currently operates driverless ride-hailing services in cities including San Francisco, Los Angeles, Phoenix and Austin, and has announced plans to expand into additional markets.

Ticker Security Last Change Change %
GOOG ALPHABET INC. 367.46 +5.36 +1.48%

GET FOX BUSINESS ON THE GO BY CLICKING HERE

A Waymo spokesperson told FOX Business the company voluntarily restricted freeway operations while making improvements, notified regulators and filed a voluntary recall with NHTSA.

“We identified an area of improvement regarding performance around freeway construction zones,” the spokesperson said.

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Rumble's Transformation Is A Risky Bet

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Rumble's Transformation Is A Risky Bet

Rumble's Transformation Is A Risky Bet

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YIT Oyj (YITYY) Discusses Residential CEE Segment Performance and Market Outlook Transcript

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript

YIT Oyj (YITYY) Discusses Residential CEE Segment Performance and Market Outlook June 17, 2026 8:00 PM EDT

Company Participants

Essi Nikitin – Vice President of Investor Relations
Markus Pietikainen – Interim CFO, Member of Group Management Team and Senior VP of Treasury and M&A
Heikki Vuorenmaa – CEO, President, Interim EVP of Residential Finland Segment & Member of Group Man. Team

Conference Call Participants

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Atte Jortikka – Inderes Oyj, Research Division
Svante Krokfors – Nordea Markets, Research Division
Anssi Raussi – SEB, Research Division

Presentation

Essi Nikitin
Vice President of Investor Relations

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Okay. I think we can start. So hi, everyone, and welcome to YIT’s analyst call preceding the silent period of our half year 2026 results release.

My name is Essi Nikitin, and I’m heading the Investor Relations at YIT. Together with me today, I have our Interim CFO, Markus Pietikainen; and our CEO, Heikki Vuorenmaa on the line. As usual, we will start with a recap to recent developments in the company presented by Markus. And after that, the participants will have an opportunity to ask questions from Markus and Heikki.

As a reminder, this call will be recorded, and the recording will be published on our website after the call. At this point, I hand over to Markus. Please go ahead.

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Markus Pietikainen
Interim CFO, Member of Group Management Team and Senior VP of Treasury and M&A

Thank you, Essi, and good afternoon, everyone. Let’s proceed with the silent call for the second quarter ’26. First, a short update on our businesses, starting with residential CEE business. As a recap, our residential CEE segment continued to perform well in the first quarter of the year with a steady growth in both revenue and profit, and this segment has become a clear profit driver for the group. The year began with healthy margins, showing the quality of the new projects we launched in 2025.

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Digimarc CEO Riley McCormack-linked entities sell $1.2m in shares

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Digimarc CEO Riley McCormack-linked entities sell $1.2m in shares

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